John Fulone, who won a race for a seat on the Mashpee Planning Board last month, announced during his first meeting with the board on Wednesday, July 1, that he had resigned from his position at Cape Cod Five.
During the race for the planning board seat, several residents alleged that his vice-president position at the bank—which has a $58 million mortgage with the Mashpee Commons—could present a conflict of interest as the Commons negotiates a proposed expansion with the board.
“During my campaign my employment at Cape Cod Five became an issue. I wanted everyone to understand I resigned from Cape Cod Five on June 19,” Mr. Fulone told the board. “I didn’t believe there was a conflict of interest anyway, but I have resigned from the bank, so that should not be an issue going forward.”
Reached by phone Thursday, July 2, Mr. Fulone maintained that a conflict never existed and said his resignation from the bank “didn’t have anything to do with the campaign or what went on with the campaign.”
He said he left the bank on good terms.
“This was a personal decision that had been a long time coming,” he said.